Alibaba's Jack Ma may join US$1.5b Grab fundraising: sources

Hong Kong

ALIBABA co-founder Jack Ma may team up with SoftBank Group Corp's Masayoshi Son in a US$1.5 billion investment in ride-hailing startup Grab, according to people familiar with the matter.

The investment would be part of Grab's previously reported US$1.5 billion fundraising, led by SoftBank and aimed at giving the Singaporean startup cash to battle Uber Technologies Inc in South-east Asia, said the people, asking not to be named because the matter is private.